Gagosian Gallery Nixes Contract Claims Against Ron Perelman

Law360, New York (October 19, 2012, 2:24 PM EDT) -- Gagosian Gallery Inc. on Wednesday voluntarily withdrew its breach of contract case against MacAndrews & Forbes Holdings Inc. and its billionaire head Ron Perelman over art sales, though the move doesn’t affect Perelman’s claims against the gallery in a separate case.

The gallery submitted a notice of discontinuance of the case, in which Gagosian alleged that Perelman had broken the terms of payment agreements to purchase two pieces of contemporary artwork and failed to adhere to a payment schedule established for a third, unfinished piece....
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